The Business Of Mining: Profits, Losses, Hobbies and Businesses
November 2008 by Mark E. BattersbyEveryone can deduct all of the ordinary and necessary expenses of conducting a trade or business. But how can anyone hope to refute the IRS’s labeling of their activity as a hobby or, probably more importantly, hope to achieve the label of a tax business?
Q: How do you amend a placer claim?
Because tungsten minerals are heavy, exploration can be done using stream sediment samples. Prospectors looking for gold have found scheelite or wolframite in their placer concentrates, and in some cases this has led them to make important tungsten finds.
The focus of attention by the financial media during past month has shifted considerably away from the international political and terrorist outlook and turned clearly toward important developments as they appear likely to affect the outlook for the US and worldwide economies in the coming year.
It was early in the 2008 season on the Mokelumne River near Pine Grove, California. Considering the potential for high water through the month of June, my wife Fran and I set our sights on investigating some of the pot holes in...
Q: I moved to Washington State in September of 2006. After recently downloading the Washington Gold and Fish Regulations, I was stunned to learn that it will be nearly impossible to prospect or work a located claim in the state of Washington…
The Bawl Mill • Where To Find Diamonds • Miners Find Encouraging Prospects Near Livengood • Glen's Big Find • Suction Dredge Study • Lluvia de Oro— A Shower of Gold Awaiting Development in the Sierra Madre—Part I • Beyond The End of The Road • Barnes Store and Yankee Jims • Mining Tax Increase Suggested • Opening Ceremony for Buckhorn Mine • Mining Journal Contest—How Much Is That Old Mining Journal Worth? • Melman on Gold & Silver • Mining Stock Quotes and Mineral & Metal Prices